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Capital Gain

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CHARTERED ACCOUNTANT
147 Points Posted on 04 August 2020
Plot sold on 23/05/2019 and on that there is a capital gain of 15 lacs ,can we get exemption under 54EC if we make investment now?
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On 04 August 2020 at 22:05 Report
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Tax and Business Consultant
11616 Points Posted on 04 August 2020
If Plot sold on 23/05/2019 and on that there is a capital gain of 15 lacs, than to get exemption under 54EC you are required to make investment in notified Capital gain bond within 6 month from date of sale, which is already Passed.

So, now you can not get exemption by making investment in bond.
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On 04 August 2020 at 23:33
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Profession Business
28207 Points Posted on 05 August 2020
There are more pertinent points...
Your capital gain is short term or long term.
You can claim exemption under Sec 54 EC upto a limit of Rs. 50 lacs within six months from the date of sale.
44 Reply
On 05 August 2020 at 08:03
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Practice
4510 Points Posted on 05 August 2020
Originally posted by : sabyasachi mukherjee
There are more pertinent points...Your capital gain is short term or long term.You can claim exemption under Sec 54 EC upto a limit of Rs. 50 lacs within six months from the date of sale.

I agree with @ Mukherjee Ji

6 Reply
On 05 August 2020 at 08:19


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